DoC programme to strengthen co-ops

KATHMANDU, AUG 29 -

The Department of Cooperatives (DoC) has earmarked Rs 42.79 million to conduct a programme to strengthen cooperatives by providing them training on financial management and enhancing the capacity of their auditors.

“The programme includes a workshop for auditors, educating entrepreneurs who wish to start cooperatives and cross checking the progress reports of cooperatives,” said Bishnu Prasad Ghimire, under-secretary at the department. Ghimire added that the programme would educate auditors about the financial aspects of cooperatives in a bid to control financial irregularities. Promoters of potential cooperatives would receive training on managing their daily operations.

Similarly, credit committees of savings and credit cooperatives would be taught how to manage their loan portfolios. Capacity building of the officials responsible for financial transactions is also part of the programme. The department has also planned to coordinate the programmes of the government and cooperatives in rural areas.

Meanwhile, the DoC plans to continue its programme of providing grants to cooperatives. “We have asked the government for Rs 7.5 million to continue the programme,” said Ghimire. It has asked the government to continue providing subsidies to cooperatives related to operating cold stores and producing betel nuts, dairy products, tea and cardamom. According to Ghimire, they have asked the government to provide another Rs 2 million to the two warehouses selected to receive subsidies.

Last year, the department distributed Rs 59.4 million to 69 cooperatives out of the total Rs 140 million approved by the Ministry of Finance. It provided Rs 7.6 million to eight cooperatives related to tea production, Rs 5 million to 11 cooperatives related to milk production and Rs 1.61 million to nine women cooperatives, among others.

Source: The Kathmandu Post